BNB’s price cools off after ATH, but is $1K target still possible?

Key Points

1. BNB's price reached an all-time high of $861 after five straight weeks of gains but has since pulled back by -4.37%, with traders dumping $200 million in Open Interest.

2. The price bounced off the $800 mark, showing signs of bid-side absorption, suggesting this level may act as a key structural support.

3. BNB's order book shows a 2:1 bid-ask imbalance, with cumulative bids at 66.5 million and asks at 33.5 million, indicating potential accumulation before another breakout.

4. The bid-ask ratio has reached its highest level in over a month (0.33-0.37), signaling strong bids under the price around $780.

5. Market structure remains intact, but further bullish momentum depends on spot flows leading perps and bid-side aggression increasing.